Skillsoft Corporation Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Note 5 - Restructuring

Note 5 - Restructuring

3 Months Ended

Apr. 30, 2025

Restructuring and Related Activities Disclosure [Text Block]

(5) Restructuring

In connection with strategic initiatives implemented during fiscal 2025, Skillsoft’s management approved and initiated plans to reduce its cost structure and better align operating expenses with existing economic conditions and our operating model. These strategic initiatives included the comprehensive resource reallocation plan announced on July 11, 2024.

The following is a summary of restructuring charges by segment for the periods presented (in thousands):

	*Three Months Ended April 30,*
	*2025*		*2024*
TDS	$	1,016	$	1,131
GK		330		(164	)
Total	$	1,346	$	967

These restructuring charges are presented separately in the accompanying condensed consolidated statements of operations. Our restructuring charges recognized during the three months ended April 30, 2025 and April 30, 2024 are substantially all related to employee termination costs.

The restructuring charge liability activity consisted of the following for the period presented (in thousands):

	*Three Months Ended*
	*April 30, 2025*
Restructuring liability as of beginning-of-period	$	2,436
Restructuring expense during-the-period		1,346
Cash paid during-the-period		(2,795	)
Restructuring liability as of end-of-period	$	987

Management has completed the majority of planned restructuring actions as of April 30, 2025; however, we will continue to evaluate its cost structure to align operating expenses with existing economic conditions and its operating model which could result in further restructuring actions.